UAE real estate giant Emaar Properties recently launched four Arabesque residential quarters at The Old Down residential development in the heart of Downtown Burj Dubai.
The development will reflect traditional Arabian lifestyles by creating a low-rise, car-free lifestyle. The four buildings, the Zanzebeel 3 and 4, and Miska 2 and 3 are characteristic of the Yansoon quarter, which is almost ready for hand-over. Work on two other residential clusters — Zaafaran and Reehan — are already in progress for an on-schedule 2007 completion, according to Gulf News. Construction is on a fast-track and Zanzebeel and Miska will be ready for possession within a year.
Emaar has joined hands with Abu Dhabi Commercial Bank to offer home finance options to own a home in the Zanzebeel and Miska quarters, offering up to 90 per cent home financing at a fixed rate of seven per cent until October 2007. Financing schemes are for tenures of 25 years.
The project will offer direct views of the iconic Burj Dubai and in close proximity to the Dubai Mall, the world's largest shopping mall.
The Old Town will comprise 1,560 homes in all, with Yansoon, Zaafaran and Reehan offering 985 apartments and Zanzebeel, Miska and the upcoming Kamoon to have 575 apartments.
